There is a good chance that people were more familiar with the term “Bitcoin” than they were with the term “cryptocurrency” a year ago. Perhaps because they assumed that Bitcoin was the only digital currency. Fairness be told, every headline that brought attention to the industry featured either Bitcoin or Bitcoin. However, people are now buying into the cryptocurrency market and adopting Bitcoin and other altcoins as investment vehicles and everyday currency. People are familiar with non-Bitcoin crypto offerings. Ethereum gained tremendous traction due to the hype surrounding Eth2 Phase 0. Online-based businesses are realizing that customers expect their platforms to allow them to use cryptocurrencies on their sites. This is a common practice in iGaming. Online betting sites are now being considered as the next sector to enter the crypto market.
Online betting sites are known for being quick to adapt to market changes and keep up with the latest innovations.
While cryptocurrencies and their usage are still a point of contention around the world of finance – mainly due to the volatility shown – some of the best crypto betting sites in the UK at www.bettingsites.info have demonstrated the initiative to introduce crypto payments. While Bitcoin is the most popular option for vendors looking to introduce cryptocurrency transactions, others have taken a more ambitious approach and offer a variety of altcoin payment options.
The customer base, awareness and adoption of digital currencies are the key factors in the use of cryptocurrencies for online betting. Bitcoin was the Premier League club Watford’s sleeve sponsor, making a significant step in this direction.
The partnership goes beyond shirt sponsorship. The club also accepts leading cryptocurrencies as payment methods for merchandise. This deal not only promotes Bitcoin, but also invites members of the top-flight English club and their friends to see how simple and user-friendly cryptocurrencies can be used in everyday general purchases.
It seems unlikely that extreme altcoins – i.e. those not included in Bitcoin Cash, Ethereum Cash, Ripple, Ripple, Ripple or Litecoin – will be widely used in the world of online betting and sports. Even though we at www.cryptoticker.io are covering the bullish momentum of DASH, it seems unlikely the mainstream will pay much attention to such developments or react to them for a while.
Traditional sports are being dominated by cryptocurrencies, which are trying to establish trust and awareness with potential users. Some online betting sites are following their lead. A new type of sport is emerging alongside cryptocurrency, according to a recent revelation about online betting.
Digital currencies and digital sports are growing hand-in–hand. Online betting sites have always focused on traditional sports and sometimes politics, as well as reality TV shows and other forms of entertainment. They are still adapting to two new digital phenomena, cryptocurrencies and eSports. Similar to crypto, eSports were initially put aside until companies realized how much it could make.
The eSports market is fast approaching $1 billion. People all over the globe are tuning in to see professional teams compete for multi-million dollar prizes in games like League of Legends or Defence of the Ancients 2. This tech-savvy, online-based audience has attracted the attention of cryptocurrency companies who see eSports as being intertwined in the future.
Online betting sites are promoting cryptocurrencies and eSports markets, so betting companies should try to follow the lead of cryptocurrencies. The eSports community is increasingly accepting cryptocurrencies as a means of making online payments.
Online betting sites should consider incorporating crypto payment methods to connect with the crowd. They can use the promotion provided by cryptocurrency brands to instantly associate themselves with the preferred method of making payments and offer another way to engage in the growing sport. Some coins have gone further to integrate themselves into the eSports scene. www.venutrebeat.com reports that Ripple contributed $100 million to a fund for mainstream blockchain games.
Cryptocurrency continues its rise in popularity and integration into many industries. It seems likely that more and more online gambling sites will offer crypto transaction methods. Many of these sites will be available as early as this year.
ChainLink is close to reaching $20, having already reached $17. The digital asset is the top performing altcoin in the top 10, destroying Ethereum when it comes down to gains. The ChainLink price is currently at $19, which indicates that bearish movements are almost non-existent. Although the daily chart is clearly overextended, the uptrends are very healthy.
Each leg up is followed shortly by a period of consolidation before the next one. Although the daily RSI has been in an overbought area for nearly two weeks, investors don’t seem to care. ChainLink’s trading volume increased dramatically on August 13, but then dropped a few days later, but it’s now picking up speed. ChainLink’s current market capitalization is $6.6 billion. This is closer than ever to Tether’s $10 billion.
ChainLink price Limit
This is the highest price LINK ever paid, but it can still be compared to other cryptocurrencies that reached their peak. Bitcoin Cash, currently below ChainLink, has reached a $56 billion market capitalization. Even Litecoin achieved a $20 billion mcap in December 2017. This was clearly during the largest crypto bull run, but it is possible that we could be on the cusp of another one. LINK’s current $6.6 billion mcap is not that high, considering other altcoins have been able achieve mcaps significantly lower.
ChainLink could easily reach $30 or even $50 with this in mind. LINK’s market capitalization would still be $17.5 billion at $50.
ChainLink’s Oracle technology is being looked at by many projects, both new and old. This digital asset platform and platform saw many big partnerships in 2019 & 2020. However, this bull rally isn’t just about fundamentals. FOMO is also important.
People are buying into LINK in hopes of making quick profits, just like any bull rally. Although this is not a healthy strategy, it is possible for ChainLink to stabilize and never crash.
ChainLink’s weekly chart looks very good at first glance. The weekly chart shows that bulls are trading above both EMAs, which are crossed bullishly, and that they are experiencing an increase in trading volume. Although the RSI is too high, it can be misleading when an asset is in a bear or bull market.
ChainLink’s first major bull rally was in April 2019. The digital asset went from $0.2 to $4.59 in just a few months. LINK eventually crashed to $1.5 and established a strong bottom, from which it bounced many times. After the March crash that also found support at $1.5 LINK rebounded as high as ever, hitting a new all time high.